The global economy is entering a new phase of unusual uncertainty and the recovery can be expected to be modest and uneven, Bank of Canada Governor Mark Carney told the Windsor-Essex Chamber of Commerce today.
The economic case for global financial sector reform is compelling, and the basic stakes are enormous, Bank of Canada Governor Mark Carney argued today in Berlin in a lecture that focused on the costs and benefits of reform. "Without credible, coordinated financial reforms, we risk losing the open trading and financial system that has underpinned the economic miracle of recent times," he said.
Bank of Canada Governor Mark Carney today urged the world's leading nations to ensure that their domestic policies are consistent with the G-20 framework for strong, sustainable, and balanced growth and to support the G-20 financial system reforms.
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.